Australia's GDI Property Group rises on asset sale

GDI Property

22/08/2025 05:11

** GDI Property Group GDI.AX rises as much as 4.5% to A$0.7, highest since June 16

** Stock marks biggest intraday pct gain since late February

** Property owner announces sale of six assets from its Autoleague portfolio for A$74 mln ($47.5 mln)

** Says sale price represents more than 50% increase from acquisition price

** Expects to return 75 AU cents/unit to unitholders upon sale settlement

** About 846,000 shares traded, 2.5x the 30-day avg

** YTD, GDI up 19.1%

($1 = A$1.5569)

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com;))